Rupee stable against dollar

KARACHI: The rupee remained stable against the dollar at Rs110.2/110.4 in the inter-bank market on Thursday compared with Wednesday’s close of Rs110.2/110.4. In the last few weeks, the rupee has cumulatively shed over 4% of its value after the central bank reportedly abstained from intervening in response to the pressure being built due to a widening current account deficit. The State Bank of Pakistan has maintained that the slide in the rupee’s value is due to supply and demand dynamics of foreign exchange in the inter-bank market.

PSX ends week on negative note losing 462 points

KARACHI: The KSE-100 Index continued its fall for the second successive session as correction along with profit-taking dragged stocks in the red on the last day of the week.

The KSE-100 Index started in the red and continued its gradual fall throughout the day to end a few points below the 43,000 level. At one point, the index suffered over a 630-point fall in intra-day trading before investors opted to buy at the day’s lows.

Announcements by Tahirul Qadri and Pakistan Tehreek-e-Insaaf of protests against the government were also received negatively, giving an excuse to investors to book profits and await clarity.

At close on Friday, the KSE-100 Index ended with a decrease of 461.56 points or 1.06% to finish at 42,933.72 points.Overall, trading volume decreased to 239 million shares, compared with Thursday’s tally of 319 million.